Sellers, You Can’t Always Get What You Want… Or Can You?!

You’ve probably heard it from your parents before; there is a famous song by the same title; heck, you’ve likely heard it from your significant other before, too… you can’t always get what you want.

Ugh. When you’re selling your home, that phrase is certainly not what you want to hear. But, when an interested buyer comes back with a low offer, a request for seller assist or a mound of other contingencies that are bound to slow down the closing process or put it to a halt altogether, sellers may have to deal with the reality that they may not get exactly what they wanted from their home sale. If you’re in this boat, don’t fear; your real estate agent should be there to help you ward off those naysayers in an effort to help you hang on to exactly (or close to) what you really want.

The name of the game for getting what you want in a real estate transaction is simple… negotiation. In fact, sellers should expect this natural part of the sales process. Frankly, not every buyer submits an offer that meets full asking price with zero contingencies and a handsome amount of earnest money down – though wouldn’t it be nice for everyone if they did!

So, how is a seller to handle an offer that is less than what they expected in some way or another? With an open mind, of course – and the help of their real estate agent. Together, sellers should work with their agents to decide how to best respond to each offer that comes in, all the time keeping in mind that their ultimate goal is to successfully sell their home.

When evaluating offers with a real estate agent, sellers should consider if they’ve received any other offers or if they have time to wait for other offers to come in. Sellers also should have a back-up plan for what they may do if no other offers come in after a specific amount of time. Do they have time to wait for their dream offer? What if it never comes?

After considering these factors, sellers can decide if it would be best for them to reject a low offer altogether or counter it with a few of their own adjustments. Whichever route they choose, they should remember not to completely close off communication with any buyer.

Sometimes, a buyer who submits even an incredibly low offer will be willing to come up to or possibly even match what a seller wants. If a seller closes those communication lines by not responding to their offer or rejecting it and refusing to hear any adjusted offers from that buyer, they may lose out on a sale altogether.

Instead, though it may be difficult, it is important for sellers to keep a very level head and respond to all offers, even the less-than-savory ones. And, savvy sellers, you’ve got options when it comes to those responses!

If they decide to reject an offer, sellers can inform buyers that while they appreciate the offer, they’ve got to pass or they’ll be happy to entertain another offer that may be more on par with the current market. If a seller would like a little insight, they could even ask buyers to explain the rationale behind their offer. Of course, sellers also have the option to counter a buyer’s offer with a price they feel is more appropriate.

Though there could be a lot of back and forth before sellers are ready to accept a buyer’s offer, sellers can take a little comfort in knowing that it is their real estate agent who will be doing the final negotiating... not them. Sellers have simply got to express what they want and their agent should work to get them there.

If you’re ready to sell your home, tell a real estate agent you can trust exactly what you want. Contact a Berkshire Hathaway HomeServices The Preferred Realty agent today.